Expensify, Inc. (NASDAQ:EXFY) Sees Large Increase in Short Interest

Expensify, Inc. (NASDAQ:EXFY) was the target of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 504,300 shares, an increase of 10.2% from the November 15th total of 457,700 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 554,000 shares, the days-to-cover ratio is currently 0.9 days.

Insider Activity at Expensify

In other news, CEO David Michael Barrett sold 15,454 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $2.91, for a total value of $44,971.14. Following the completion of the sale, the chief executive officer now directly owns 2,378,319 shares in the company, valued at approximately $6,920,908.29. The trade was a 0.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Anuradha Muralidharan sold 29,410 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.40, for a total transaction of $99,994.00. Following the transaction, the chief operating officer now directly owns 3,941 shares in the company, valued at approximately $13,399.40. This represents a 88.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 166,423 shares of company stock valued at $475,488 over the last 90 days. 17.33% of the stock is owned by insiders.

Institutional Trading of Expensify

A number of institutional investors have recently modified their holdings of EXFY. Vanguard Group Inc. raised its position in Expensify by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock valued at $6,158,000 after purchasing an additional 476,687 shares during the last quarter. Walleye Capital LLC increased its stake in shares of Expensify by 42.1% during the third quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock valued at $1,183,000 after buying an additional 178,911 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Expensify during the third quarter valued at approximately $183,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Expensify by 25.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 308,065 shares of the company’s stock valued at $604,000 after acquiring an additional 63,052 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Expensify in the second quarter worth $86,000. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup lifted their price objective on Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday. JMP Securities lowered Expensify from an “outperform” rating to a “market perform” rating in a research report on Monday, November 25th.

Expensify Stock Down 1.8 %

Shares of Expensify stock opened at $3.80 on Tuesday. The company’s fifty day simple moving average is $2.61 and its two-hundred day simple moving average is $2.16. Expensify has a 12-month low of $1.24 and a 12-month high of $4.13. The firm has a market cap of $293.19 million, a PE ratio of -21.11 and a beta of 1.90.

Expensify Company Profile

Expensify, Inc provides a cloud-based expense management software platform to individuals and corporations, small and midsized businesses, and enterprises in the United States and internationally. The company’s platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel.